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A group of auto distributors is reportedly refusing to receive their March car shipments from agents due to the slump in sales they have been experiencing since the EGP float, Al Mal reports. Recent discounts that ranged from EGP 18k-51k for some brands were unable to reverse the downtrend in auto sales that began in […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Is malls euphoria coming at a bad time?
Is Egypt’s euphoria with malls coming at a bad time? Mega malls opening in Egypt are coming at a bad time as high inflation slows down spending, argues Hossam Abougabal in a Middle East business intelligence piece. Abougabal writes that “living costs have increased drastically since November 2016, with the outlook for retail in the […]
Posted inSpeed Round
Court issues arrest warrant for Ahmed Ezz
A court has issued an arrest warrant for steel magnate Ahmed Ezz in the case regarding obtaining a steel production license, Reuters’ Arabic service noted. The case was adjourned until 4 April. An arrest order was also issued for former Industrial Development Authority Chairman Amr Assal, a co-defendant in the case. According to lawyer Mohamed […]
Posted inSpeed Round
Leaked photo allegedly shows CBE Governor Tarek Amer and former investment minister Dalia Khorshid getting married
A photo purportedly showing CBE Governor Tarek Amer and former investor minister Dalia Khorshid getting married has leaked, courtesy of Youm7. The photo appears to confirm rumors that have been circulating in low-tier newspapers for several months that the two married in secret. It remains unclear when the photo was taken.
Posted inSpeed Round
Enterprise is hiring
*** COME WORK WITH US. We’re looking for bright, talented writers and analysts to join our team to work on the current Enterprise Morning Edition and new products we have in the pipeline. You’re likely an equities / macro / research analyst, IR professional or journalist, but we’re less interested in your formal education than […]
Posted inUncategorized
** SHARE ENTERPRISE WITH A FRIEND ** Enterprise is available without charge — just visit our English or Arabic subscription page, depending on which edition you would like to receive. We give you just about everything you need to know about Egypt, in your inbox Sunday through Thursday before 7am CLT (8am for Arabic), and […]
Posted inTHE MACRO PICTURE
Global growth to be broader, but remain steady in 2017 -GS
Goldman Sachs Asset Management’s Global Portfolio Solutions (GPS) Co-CIO Neill Nuttall thinks 2017 will have a steady but broader global growth. Nuttall says he does not expect global growth to be much higher this year, “but we see positive contributions from more countries. We are focusing particularly on emerging markets among this broadening base, notwithstanding […]
Posted inImage of the Day
British soldier paints watercolors of Egypt during WWI
A British soldier hailing from Plymouth documented his time in Egypt during World War I through a collection of bright watercolor paintings, which were unearthed along with his diary from the war. Wilfred Owen Reynolds first arrived in Alexandria in 1915, and seems to have stayed in Egypt well into 1918, Jon Bailey writes for […]
Posted inEGYPT IN THE NEWS
Hawas says Messi is a “moron,” later apologizes, blames translator
In a day of slow news coverage on Egypt in the international press, we found ourselves bawling with laughter at this gem: Lionel Messi is a “moron,” Zahi Hawass, who showed the footballer around the pyramids, said. “I don’t think he was at all interested. I didn’t see any interest in his face in what […]
Posted inEGYPT IN THE NEWS
Egyptian newspapers need a “Washington Post revolution”
Print press could be dying in Egypt: “The transformation print press in Egypt has undergone in the past few years is too radical to go unnoticed and too ominous to be overlooked,” Sonia Farid writes in Al Arabiya. She notes that Egyptian households have substituted buying around three newspapers each day, “two official and one […]